French shipping line invests in Port of Long Beach

Set Text Size SmallSet Text Size MediumSet Text Size LargeSet Text Size X-Large
Updated: 12/12/2012 7:23 pm

LONG BEACH, Calif. (AP) — A France-based shipping line has purchased a stake in the Port of Long Beach, a move expected to boost port revenues by $70 million over the next five years.

Port officials announced Wednesday that CMA CGM, the world's third-largest container shipping line, would become a partner in the lease and operations of Pier J, a 256-acre terminal.

The move guarantees that the firm's ships will call exclusively at the Port of Long Beach when using the San Pedro Bay gateway. An additional 2.6 million container ports are expected to move through the port over the next half-decade.

The port has embarked on a 10-year, $4.5 billion capital improvement program that includes upgrades to terminals, rail facilities and overall infrastructure.


©2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

0 Comment(s)
Comments: Show | Hide

Here are the most recent story comments.View All

No comments yet!

Featured Segments/Shows

All content © Copyright 2015 Intermountain West Communications, LLC. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.
You may also view our Sitemap

Inergize Digital This site is hosted and managed by Inergize Digital.
Mobile advertising for this site is available on Local Ad Buy.